Consultation on National Financial Inclusion Strategy with Bangladesh development partners

On Thursday 24 May, we met with the country's development partners in Dhaka to discuss their views of the draft National Financial Inclusion Strategy for Bangladesh.

The National Financial Inclusion Strategy for Bangladesh is a public document roadmap to help excluded populations get access to financial services. The Business Finance for the Poor in Bangladesh programme is assisting the Bangladesh Bank to draft the Strategy, which aims to:

Assist Government to adopt a coordinated approach across ministries, public and private sectors

Raise national awareness of the need for greater financial inclusion

Build trust and collaboration among stakeholders

Implement, coordinate and monitor actions

This event gave a platform to international development partners to offer their unique perspectives on the NFIS draft.

At the event, Mr. Asif Iqbal, Deputy Director of Bangladesh Bank, offered a presentation of the draft National Financial Inclusion Strategy. The NFIS development process was discussed in detail, along with the six strategic thrusts that the Strategy will address (see below).

Among the special guests were Mr. Arijit Chowdhury, Additional Secretary, Financial Institutions Division, Ministry of Finance, and Government of the People’s Republic of Bangladesh as the Chief Guest.

Digitisation was discussed as the Core Pillar of the NFIS-B, to expand inclusion right from the financial to the social services as well. In lieu, the Vision 2021 was stated which aims to develop Bangladesh into a resourceful and modern economy through the efficient use of information and communication technology.

Vision of the NFIS-B

To create an integrated and accessible financial system that responds to the needs of the country's population and enterprises and supports rapid and inclusive development of the country’s real sector.

We should focus on social cohesion and not just financial inclusion.